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, that's something that will -- >> howard goes on and on. clinton tax rates on everybody. will it cause a problem? yeah, short recession, but we get defense cuts which republicans would never agree to otherwise, there are human service cut which is we won't like, but the least possible damage. and it's a serious down payment on the deficit. the wall street people ringing their hands are really full of it. i'm not sure what. but full of something because they're going to see a big drop on wall street but it will come roaring back because somebody has done something. so you have him and all their friends and the right and all their friends and the president who i don't think if he can ever get out of campaign mode. it's a full on campaign again. putting one party into -- >> you're right, the amt will hit more people in the middle class and raise their effective tax rate to a higher rate than they were today. and you won't -- >> you have obamacare 4% on everyone, too. >> if you lieu numerically, it doesn't make sense if one side says we're not going to race taxes on the middle class -- >>
hillary clinton accepted the concept that every time we've raised capital gains tax, the receipts from that have gone down. every time we've lowered it, they've gone up. he accepted that. i want to know if his opinion is modified or is he considering laying off tax and business investment for fear that it will give us less of it. >> two very interesting questions there about what effect a change in taxes does to behavior. i think you can't deny the fact that it does change behavior. is there right. it is very complicated math. when they start saying it is math, it is really complicated math. you show me someone who can do that study -- >> it goes back to that idea, you raise a tax on something, you'll get less of it! >> no doubt about it. >> jim iuorio, thank you. >>> reminder -- do not miss steve leisman's exclusive interview with treasury secretary tim geithner. there won't be many more of these because mr. geithner has signaled he will be leaving. it is at 4:00 p.m. today eastern time. key man, the point man, on the administration side in the fiscal cliff negotiations. >>> bertha co
for progressives, just to do it. to go back to the clinton era rates. you get rid of three quarters of the deficit just on tax increases at that point. >> and he says you get defense cuts. >> you can't get defense cuts any other way. and he's not the only one. there's a lot of people on the left and there's quite a few people on the right. i'm glad you're optimistic and a lot of ceos and guys in your position -- if you run a company, you don't need consumers petrified and business people petrified. this is the last thing we need if you run a company. i understand you have a horse in the game. >> but you also have the double trigger. if you go over the cliff, we've got the debt ceiling fight right afterwards. it's not like that's six months down the line. that's in if first month, six weeks of the new year. >> the other thing, depending on where you stand, the idea that we just get rid of congressional approval of the debt ceiling at all, which is that ludicrous proposal that was in the president's plan. that's not -- and would you really want that? would you really want not having any more oversig
Search Results 0 to 2 of about 3